FXOpen

Last updated

FXOpen
Company type Private
Industry Financial services
Founded2003;21 years ago (2003)
Headquarters
Perth, Australia
London, United Kingdom
Charlestown, Saint Kitts and Nevis
Limassol, Cyprus
Key people
Jafar Calley (Director)
Alexey Stepanov (CEO)
ServicesOnline Forex trading, precious metals trading, CFDs
Number of employees
500+ [1]
Website www.fxopen.com
www.fxopenprime.com

FXOpen is a retail and institutional forex broker offering online trading services via MetaTrader 4, MetaTrader 5 and TickTrader trading platforms. It provides access to the electronic communication network (ECN) to trade currency, commodity, indices and stock CFDs. FXOpen companies operate in Australia, Saint Kitts and Nevis, the United Kingdom and Cyprus and have representatives in a number of other countries. [2] [3] [4] [5]

Contents

History

FXOpen was founded in 2003 as an educational centre of technical analysis in Egypt. [6] [7] In 2005, the company launched a brokerage services. In 2006, the company introduced Micro accounts and swap-free Shari’a compliant accounts. [7] In 2009, FXOpen developed its own bridge technology that provided retail traders with an access to the ECN market via the MetaTrader platform. Subsequently, it also provided ECN PAMM accounts. [8]

In August 2014, FXOpen NZ Limited stopped issuing derivatives to retail customers and the company was deregistered from the financial services provider register. In July 2015, New Zealand revoking its registration from the Financial Dispute Resolution Scheme. Since 2015, FXOpen LP Limited (New Zealand) a limited partnership, provides trading technology platform to wholesale customers. [9]

In 2021, FXOpen launched a trading platform TickTrader which allows to combine trading forex, stocks, indices, and commodities within one trading account. [10]

Operations

FXOpen offers an ECN-integrated MT4, MT5 and TickTrader trading platforms, compatible with algorithmic trading. It enables users to apply various trading robots, known as expert advisors. [8] FXOpen provides traders with proprietary designed One Click Trading Level2 Plugin software (OCTL). The tool was released in 2013 and is regarded as the Level2 application update optimizing the order execution process in the MT4 platform. [11]

Regulatory information

Several regulated companies operate under FXOpen brand name:

Sponsorships

The company has used sponsorship to promote itself including, in 2011, FXOpen took participation in organizing and promoting the FXOpen Drift 2011 competition. [13]

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References

  1. ↑ "Working at FXOpen". Glassdoor.com. Retrieved 16 April 2015.
  2. ↑ "FXOpen Forex Broker". EarnForex.com. Retrieved 16 April 2015.
  3. 1 2 "Australian financial services licensing". ASIC. Retrieved 16 April 2015.
  4. 1 2 "579202 - FXOpen Ltd". FCA. Retrieved 16 April 2015.
  5. ↑ "ООО "ОТКРЫТЫЙ ФОРЭКС" - Москва". B2B-Project.ru (in Russian). Retrieved 16 April 2015.
  6. ↑ "International Association of Forex Traders". tradersunion.com. Retrieved 16 April 2015.
  7. 1 2 "Innovations for traders' sake". World Finance. 4 January 2011. Retrieved 16 April 2015.
  8. 1 2 Greenberg, Michael (12 October 2009). "FXOpen keeps up with the innovation - launches first ever ECN PAMM accounts based on Metatrader 4". FinanceMagnates. Retrieved 16 April 2015.
  9. ↑ "FXOPEN NP LIMITED (Registered)". Companies Office of New Zealand. Retrieved 10 June 2016.
  10. ↑ "FXOpen proudly presents TickTrader, an excellent solution for the EU trading community". 20 July 2021.
  11. ↑ Nikolova, Maria (17 September 2013). "FXOpen Releases Updated Plugin for One Click Trading, Market Depth". Forexbrokerz.com. Retrieved 16 April 2015.
  12. ↑ "FXOPEN LP LIMITED" . Retrieved 2020-05-29.
  13. ↑ Zhelev, Stanimir (23 June 2011). "FxOpen sponsors the biggest drift competition in Europe". Forexbrokerz.com. Retrieved 16 April 2015.
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